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The NBFC Account Aggregator (AA) framework is revolutionizing financial data sharing in India. An NBFC-AA is a regulated intermediary that allows individuals to securely consolidate and share their financial data—such as bank, insurance, mutual fund, and pension account information—with financial service providers, all with the user's explicit consent.
This system ensures data privacy, security, and user control, making it a critical component of India's evolving digital financial ecosystem.
Key Highlights of the NBFC-AA Ecosystem:
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Over 420 financial institutions are currently part of the ecosystem.
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More than 38.95 million accounts have been linked.
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Over ₹1.3 lakh crore in loans have been facilitated through the AA framework.
Who Can Apply to Become an NBFC-AA?
Eligible entities include:
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Fintechs
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Banks
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Insurance companies
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Investment and loan platforms
Requirements:
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Minimum net worth of ₹2 crore
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Robust IT infrastructure
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An RBI-compliant corporate structure
Eligibility & Licensing Essentials:
To register as an NBFC-AA, applicants must:
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Be a registered NBFC under the Reserve Bank of India (RBI)
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Maintain the minimum Net Owned Fund (NOF) requirement
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Obtain in-principle approval from the RBI
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Have strong IT infrastructure to ensure data security
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Ensure that the board of directors includes members with financial sector expertise
Want to Register as an NBFC-AA or Ensure RBI Compliance?
📞 Contact us for a free consultation:
+91 93113 47006